Bedding World Co (ROCO:2938) Operating Income: NT$49.1 Mil (TTM As of Jun. 2026)

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ROCO:2938 Bedding World Co Ltd ROCO:2938
70 GF Score
Price NT$25.70
GF Value NT$31.81
Valuation Modestly Undervalued
! 7 Warning Signs
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What is Bedding World Co Operating Income?

Bedding World Co ROCO:2938 +4.05% 70 Operating Income is NT$49.1 Mil as of Jun. 2026. GuruFocus rates ROCO:2938 with a GF Score™ of 70/100 and a GF Value™ of NT$31.81 (Modestly Undervalued). The stock has 7 warning signs investors should review.

Bedding World Co's Operating Income for the six months ended in Jun. 2026 was NT$27.3 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was NT$49.1 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Bedding World Co's Operating Income for the six months ended in Jun. 2026 was NT$27.3 Mil. Bedding World Co's Revenue for the six months ended in Jun. 2026 was NT$363.0 Mil. Therefore, Bedding World Co's Operating Margin % for the quarter that ended in Jun. 2026 was 7.53%.

Warning Sign:

Bedding World Co Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -16.5%.

Bedding World Co's 5-Year average Growth Rate for Operating Margin % was -16.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Bedding World Co's annualized ROC % for the quarter that ended in Jun. 2026 was 3.17%. Bedding World Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 6.44%.


Bedding World Co  (ROCO:2938) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Bedding World Co's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=54.638 * ( 1 - 24.55% )/( (1325.082 + 1276.488)/ 2 )
=41.224371/1300.785
=3.17 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1598.058 - 77.975 - ( 391.788 - max(0, 314.496 - 509.497+391.788))
=1325.082

Invested Capital(Q: Jun. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=1560.846 - 83.065 - ( 424.243 - max(0, 319.295 - 520.588+424.243))
=1276.488

Note: The Operating Income data used here is two times the semi-annual (Jun. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Bedding World Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=56.626/( ( (900.806 + max(-14.688, 0)) + (856.628 + max(-46.145, 0)) )/ 2 )
=56.626/( ( 900.806 + 856.628 )/ 2 )
=56.626/878.717
=6.44 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5.185 + 96.184 + 14.499) - (77.975 + 0 + 52.581)
=-14.688

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3.938 + 83.647 + 8.395) - (83.065 + 0 + 59.06)
=-46.145

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Bedding World Co's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=27.319/362.995
=7.53 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Bedding World Co Operating Income Related Terms


Bedding World Co Operating Income Historical Data

* Premium members only.

The historical data trend for Bedding World Co's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Bedding World Co Operating Income Chart

Bedding World Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 154.79 155.84 109.08 119.27 42.39

Bedding World Co Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 59.77 59.50 20.66 21.73 27.32
ROCO:2938
70GF Score
Bedding World Co Ltd ROCO:2938
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Bedding World Co Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was NT$49.1 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of NT$49.1 Mil mean?
Bedding World Co (ROCO:2938) has a Operating Income of NT$49.1 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Bedding World Co and its competitors.
Is Bedding World Co's Operating Income too high?
Bedding World Co's current Operating Income is NT$49.1 Mil. Overall, Bedding World Co has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bedding World Co's Operating Income compare to SN and SGI?
Bedding World Co's Operating Income of NT$49.1 Mil can be compared against companies in the Furnishings, Fixtures & Appliances industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Furnishings, Fixtures & Appliances company?
A good Operating Income depends on the Furnishings, Fixtures & Appliances industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Bedding World Co and its competitors. Bedding World Co's current Operating Income is NT$49.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bedding World Co stock overvalued right now?
Based on GuruFocus' analysis, Bedding World Co (ROCO:2938) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$31.81, compared to a current price of NT$25.70 — trading 19.2% below its estimated fair value. The current Operating Income is NT$49.1 Mil. Bedding World Co's overall GF Score™ is 70/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Bedding World Co (ROCO:2938), the current Operating Income is NT$49.1 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Bedding World Co (ROCO:2938) Overvalued in 2026?

Based on GuruFocus' analysis, Bedding World Co stock appears to be undervalued. The current stock price of NT$25.70 is trading 19.2% below its estimated GF Value™ of NT$31.81. GuruFocus considers Bedding World Co to be Modestly Undervalued.

Key valuation signals for ROCO:2938:

  • Operating Income: NT$49.1 Mil
  • GF Value™: NT$31.81 vs. price of NT$25.70 (19.2% below fair value)
  • GF Score™: 70/100 with 7 warning signs

No single metric tells the full story. See the ROCO:2938 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Bedding World Co Business Description

Address Number 88, Sec. 1, Jiuzong Road, Neihu District, Taipei City, TWN
Bedding World Co Ltd is a Taiwan based company mainly engaged in manufacturing of a variety of beds. The company's product offerings include Classic bed, National mattress, Grand Canyon, Statue of Liberty, Harvard and other brands of beds and other related stuff.
70GF Score

Get the complete analysis for ROCO:2938

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

NT$25.70
Price
NT$31.81
GF Value